Ten coastal suburbs in Queensland could provide a long-term opportunity for property investors looking to break into the apartment market.
BuyerBuyers co-founder Pete Wargent said these coastal suburbs are ideal for investors seeking long-term capital growth and rental returns.
“In the unit market, there are solid opportunities in many of the coastal markets of Queensland, both on the Sunshine Coast and at the Gold Coast, and further north for those with a different budget level,” he said.
The list covers suburbs with median apartment price ranging from $260,000 to $761,000 and double-digit annual gains of at least 10%.
Suburb
SA4 Region
Median unit price ($)
12-month price growth (%)
Mooloolaba
Sunshine Coast
702,963
35
Coolum Beach
Sunshine Coast
738,762
35
Port Douglas
Cairns
282,262
10
Trinity Beach
Cairns
304,317
20
Palm Cove
Cairns
356,426
19
Palm Beach
Gold Coast
736,253
35
Miami
Gold Coast
718,095
35
Tugun
Gold Coast
761,476
35
Airlie Beach
Whitsundays
366,430
21
Bowen
Whitsundays
269,584
13
Mr Wargent said a general advice for investors in Queensland is to look for boutique unit developments with reasonable strata levies.
“If the budget permits, look for family-friendly units with owner-occupier appeal, in those popular suburbs where the supply is somewhat capped,” he said.
Queensland’s property market tailwinds
A recent report from Colliers identified five factors that could provide Queensland a boost over the next few years. These include:
Queensland’s stronger economic performance relative to other states
Population growth and interstate migration
Labour market’s recovery
Major infrastructure and investment
Hosting of the 2032 Brisbane Olympics
Colliers state chief executive for Queensland Simon Beirne said Queensland has already entered an era of growth, with several economic and demographic trends reflecting the state’s long-term potential as a place for investment and development.
“The Queensland economy has evolved significantly over the past decade, and the rate of change is expected to accelerate due to the substantial capital investment that is underway or planned across the state,” he said.
Mr Beirne said Queensland has become the preferred destination for internal migration, given the relatively affordable housing opportunities compared to the bigger states of New South Wales and Victoria.
“Lifestyle, quality of life and the cost of living have all become heightened factors in people’s decisions of where to live and work over the past two years. However, this is not a new phenomenon with Brisbane consistently included as a top ten performer in Global Liveability rankings,” he said.
This was apparent during the pandemic, with the state welcoming many households from Sydney and Melbourne.
Around 31,000 migrated into Queensland from other states over the year to June 2021, which included 83% of those who left Victoria, New South Wales, and the Northern Territory.
This has resulted in the strongest year-on-year growth in internal migration for Queensland since 2005.
“The strong positive interstate migration that has occurred has meant that the estimated population growth year-to-date to June 2021 for Queensland was 0.9%, the strongest growth rate across the states and well above the national result of 0.2%,” Mr Beirne said.
According to forecasts, the Queensland population is set surpass 6.2 million in 2031, which could potentially require 385,000 new dwellings over the next 10 years.
—
Photo by @cityofgoldcoast on Unsplash
Top Suburbs :
murdoch
,
north lambton
,
ropes crossing
,
berala
,
reservoir
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